New Delhi, Aug. 2 -- The Indian Space Research Organisation (ISRO) has set its sights on securing 10% of the global commercial satellite launch market.

According to a senior official, this move aligns with India's growing ambitions in the global space economy, where demand for satellite launches is steadily increasing.

Currently, the global satellite launch market is valued at nearly $20 billion annually. India's share stands at just around 2%, but ISRO is confident that with the right reforms and private sector involvement, this can be significantly improved.

The organisation has already completed over 430 satellite launches for 34 countries, generating over Rs 3,100 crore in revenue.

Dr. R Umamaheswaran, chairman of IN-SPACe (Indian...